Vietnam’s seafood exports rise, indicating market recovery is underway

Published 2024년 10월 10일

Tridge summary

Vietnam's seafood exports in 2024 have experienced a significant recovery, with a 9% increase in value and an 8.5% increase in volume from January to September compared to the previous year, reaching a value of USD 7.2 billion (EUR 6.6 billion). The country's seafood industry has shown growth across various products, including a 10.5% increase in shrimp exports, an 8% increase in pangasius exports, and a 16% increase in tuna exports, despite challenges such as raw material shortages. The industry's resurgence is attributed to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and a favorable ruling from the U.S. Department of Commerce regarding pangasius export practices. The Vietnam Association of Seafood Exporters and Producers (VASEP) believes the country is on track to meet its ambitious earnings goals for 2024.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Vietnam’s seafood exports have grown in value and volume over the course of 2024, indicating a broad recovery is underway after a difficult two-year period.The value of Vietnam’s seafood exports reached USD 6.3 billion (EUR 5.8 billion) between January and August 2024, up nearly 9 percent year over year, and hit USD 7.2 billion (EUR 6.6 billion) for the first nine months of this year, up 8.5 percent, according to the Vietnam Association of Seafood Exporters and Producers (VASEP). Vietnam earned USD 866 million (EUR 792 million) from its seafood exports in September alone, up from 811 million (EUR 741 million) in September 2023.The Southeast Asian country set ambitious earnings goals for its seafood industry in 2024, including USD 9.5 billion (EUR 8.7 billion) from total seafood exports, USD 4 billion (EUR 3.7 billion) from shrimp exports, USD 1.9 billion (EUR 1.7 billion) from pangasius sales, and USD 3.6 billion (EUR 3.3 billion) from other seafood products. As of September 2024, ...

Source: Seafoodsource